We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
|
|
|
Showing 4906 to 4910 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PTC India Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
|
| |
| |
|
